There is a large quantity of people.
There are a large quantity of people.
Are both correct?
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I thought this excerpt from Oxford Dictionaries was instructive:
Although the expression ‘a number’ is strictly singular, the phrase ‘a number of’' is used with plural nouns (as what grammarians call a determiner (or determiner)). The verb should therefore be plural:
A number of people are waiting for the bus.
This is not the case with ‘the number’, which is still singular:
The number of people here has increased since this morning.